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Not quite. Remember that if you held the true value of a currency flat with increasing automation and technological efficiency you should get more for the same
by zionic 5y ago
Not quite. Remember that if you held the true value of a currency flat with increasing automation and technological efficiency you should get more for the same amount of money. Prices staying flat over time in the face of efficiency gains is its own sort of inflation.
I do agree that they should source things better.
- dragonwriter 5y ago> Remember that if you held the true value of a currency flat with increasing automation and technological efficiency you should get more for the same amount of money. That...requires a very special definition of “true value”. If the “true value” is measured by consumer goods and services you can exchange it for, this is trivially false. If it is measured by labor hours of production output you can exchange it for, it is equally trivially true. Neither is uncontroversially the One True Meaning of “true value”.